Law revision information: Cabinet Office Ordinance on Funds Transfer Business (enforced on April 6, 4)
Posted: May 2024, 4
The Cabinet Office Ordinance on Funds Transfer Business has been revised and will come into effect from April of this year.
This article will explain these points.
Issuance of receipt certificate, no need for consent even by electromagnetic method
Previously, when providing receipts by electromagnetic means, it was necessary to state this in the terms of use, etc., and obtain consent, but this is no longer necessary with this revision.
However, if a request is made not to receive information via electromagnetic means, it must be delivered in writing.
When issuing documents, there are no particular changes and operations will continue as before.
What is a receipt in the funds transfer business?
A receipt is something that must be provided to a user when receiving funds from the user.
As mentioned above, the receipt will be delivered in writing or by electromagnetic method.
The contents to be written on the receipt are as follows.
- Funds transfer company trade name and registration number
- Amount of funds received
- Date of receipt
However, it is not required if you receive funds by bank account transfer.
(Required if requested by the user.)
